China’s benchmark Shanghai Composite Index (000001.SH) lost 0.45% on Friday, while the Shenzhen Component Index (399001.SZ) fell 0.56%.
Shanghai’s tech-heavy STAR 50 Index (000688.SH) lost 0.23% for the day, while Shenzhen’s similar ChiNext Index (399006.SZ) fell 0.24%.
Below is a rundown of the top China business and finance stories, plus other news for the day:
· Weekly Must-Read: China Slashes Quarantines for Travelers in Covid Control Trial
International arrivals will face 10 days of isolation instead of 14 in four-week test involving Shanghai, Guangzhou and six other cities
· Chinese Banks Expand Mortgage Rate Cuts to Bolster Housing Market
Lenders in more than 100 cities slashed borrowing costs since March, PBOC says, as authorities move to shore up key economic sector
· China Puts New Financial Holding Companies in Systemic Risk Management
After clearing the first two FHCs, central bank is reviewing three other applicants, head of Macroprudential Policy Bureau says
· Four Things to Know About China’s Warning on NFT Financial Risks
State-backed finance industry associations urge member institutions to ‘curb the tendency to financialize or securitize NFTs’
· Singapore’s Finance Minister Lawrence Wong Tipped to Be Nation’s Next Leader
Cabinet ministers of the city-state affirmed their choice of the party’s fourth-generation team leader on Thursday, Prime Minister Lee Hsien Loong says in a statement
· Soaring Lithium Prices Yield Bumper Profits
The average spot price of battery-grade lithium carbonate, a key material used in electric car batteries, has nearly doubled in the first quarter after shooting up 434% last year
· Another Chinese Province to Blacklist Scientists for Job Hopping
Jiangxi joins a host of regions resorting to punitive measures as competition for talent intensifies
· Covid Concerns Leave More Shenzhen Office Space Empty
About 77.8% of top class office space in the southern tech hub was leased at the end of March, a decline of 2.9 percentage points from the end of last year
· Shanghai’s Covid Lockdown Forces Scramble by Tech Supply Chain
As Apply suppliers Quanta and Pegatron suspend output, Biren, SMIC and Hua Hong dodge restrictions by having workers live in factories and offices
· Chinese Metal Tycoon’s Companies Fined $1.83 Billion by U.S.
Businesses controlled by Zhongwang founder Liu Zhongtian sentenced in conspiracy to evade customs duties on aluminum
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This article was generated by Caixin Automation.
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